Oil prices erased losses and jumped on Tuesday morning following the SPR release announcement Despite the seemingly big number, 50 million barrels, the U.S. release actually equals around two and a half days of American […]
Saudi Energy Minister Prince Abdulaziz Bin Salman delivered an hour-long masterclass in gaslighting after Thursday’s virtual meeting of ministers representing the OPEC+ group of oil producers. Arguing that the current energy crisis had been caused […]
Oil gained as investors turned their attention to a key OPEC+ meeting, with the group facing calls from consumers to pump more crude. Futures in New York rose back above $81 a barrel, with the […]
Global oil demand has already exceeded the threshold of 100 million barrels per day (bpd) last seen before the pandemic, supermajor BP estimates. Demand will continue to increase and reach pre-COVID levels at some point […]
OPEC and its allies struggled again to pump enough oil in August to meet global demand as it recovers from the coronavirus pandemic, potentially adding to upward pressures on oil prices. Several OPEC+ members such […]
Brent oil declined from its highest level in seven years as a U.S. industry report pointed to an increase in crude stockpiles and China unleashed measures aimed at stabilizing its power supplies for the winter. […]
Two weeks ago, in a short and terse affair that did nothing to address the spill-over from overheating gas markets, OPEC+ confirmed that it would stick to its July agreement to boost output by 400,000 […]
Skyrocketing prices for natural gas, coal and electricity are putting extra pressure on oil markets, boosting demand as industries and power generators seek to switch to liquid fuels to keep a lid on costs. But […]
Shortages of natural gas in Europe and Asia are boosting demand for oil, deepening what was already a sizable supply deficit in crude markets, the International Energy Agency said. Crude has surged above $80 a […]
ENB Publishers Note: The world’s energy crisis was not an overnight occurrence. It was brought on by years of bad energy policies. The rush to renewables without a plan has caused almost unrepairable damage. Do […]
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